Barclays bank pay bonus

[ChrisT70]

in the theme of this thread, and backing up what i believe happens, ie one bank sees massive payments and decides they can pay what the hell they like to the top boys, heres todays latest kick in the teeth for those who supported the banks thro our taxes.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8369667/RBS-directors-share-28m-bonus-awards.html#

[Treatment]

I would have thought that all this talk of '' bonuses '' is probably not entirely correct.

 

A staff profit distribution would possibly be more accurate.

[Grandad.Malky]

in the theme of this thread, and backing up what i believe happens, ie one bank sees massive payments and decides they can pay what the hell they like to the top boys, heres todays latest kick in the teeth for those who supported the banks thro our taxes.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8369667/RBS-directors-share-28m-bonus-awards.html#

 

But this thread is about Barclays bank.

[green]

There's far too many people who have no CLUE what Barclays took from US, the taxpayers.....

 

 

Barclays may not have taken direct tax payer investment, but it gorged itself on the Bank of England’s special liquidity scheme.

 

The UK taxpayer guarantees all money (up to £65k) held on deposit in Barclays. The Bank of England estimate that this is effectively a subsidy worth at least £30 billion a year to the banks.

 

They borrow at 0.6% because BoE base rates are suppressed to 0.5% meaning we, the taxpayers, get virtually nothing from our savings and worse, we get inflation rates higher than are wages increase. They get to lend the money back out to us, the punters, at 5% or buy UK government bonds costing taxpayers 3.7% interest a year.

 

This is all criminal!!!

 

Barclays took IMF draw down rights (effectively a huge taxpayer subsidy.

 

It took £6bilion from the US TARP scheme.

 

Without this tax payer funded gravy train, Barclays would have gone to the wall.

 

The Cobden Centre analysis-

 

"This was not some magical money of no consequence that was whistled up out of thin air, it was the taxpayer taking on the very worst risks that they had on their books, in return for freshly printed (electronic) cash, debasing the rest of us in the process.

 

Secondly, Barclays took a bet, not that bits of Lehman’s were being thrown away at rock bottom prices, but that governments would step in and bail out the banking industry as a whole, explicitly as well as implicitly, thus making those bits of Lehman’s worth something. Without the trillions of US taxpayer dollars thrown at Wall Street, those bits would surely be worthless.

 

Thirdly, the banking industry, Barclays included, have benefited from a hidden bailout. Quantitative easing: a process where the central bank buys assets directly from the banks (often the same bonds the banks bought from the treasury at a lower price some days before), to the engineered ‘positive yield curve’ where banks can buy longer terms assets earning high rates of interest, and then fund them at absurdly low rates at the funding windows of the central bank. The money-making opportunities given to the banks by the state, in the name of ‘balance sheet rebuilding’, are truly obscene.

 

Can any individual or small business benefit from interest rates at close to zero? Is any normal person able to borrow at those levels? No, of course not, we all know we’re paying many points over the base rate for our overdrafts, credit cards, mortgages and so on. Barclays and others are now raking in mountains from borrowing at close to zero and lending it out at 4, 5, 10 and 20%. And the market is rigged to allow this to happen. Are your hard-earned savings paying much? No, but Barclays takes your money, and uses it to fund its own smart trade ideas – the profits of which it, and Mr Diamond, get to keep".

 

Is it that difficult for Mr Daimond to make any money under these circumstances?

 

And even then he couldn't be arsed to pay any corporation tax like every other honest, reputable business has to. This again is an unfair competitive advantage.

 

To add insult to injury Barclays has the cheek to rip off its customers, shareholders and the UK public.

 

Visit the follwoing websites to learn what you can do about this outrage:-

 

http://www.38degrees.org.uk

http://www.onegoodcut.org

http://www.robinhoodtax.org

http://www.marchforthealternative.org...

[ChrisT70]

But this thread is about Barclays bank.

 

yes i know, i started it. i feel quite strongly that the banks should be restricted from paying massive bonuses until the money lent from the UK govt (us) is repair in full

[ChrisT70]

There's far too many people who have no CLUE what Barclays took from US, the taxpayers.....

 

 

Barclays may not have taken direct tax payer investment, but it gorged itself on the Bank of England’s special liquidity scheme.

 

The UK taxpayer guarantees all money (up to £65k) held on deposit in Barclays. The Bank of England estimate that this is effectively a subsidy worth at least £30 billion a year to the banks.

 

They borrow at 0.6% because BoE base rates are suppressed to 0.5% meaning we, the taxpayers, get virtually nothing from our savings and worse, we get inflation rates higher than are wages increase. They get to lend the money back out to us, the punters, at 5% or buy UK government bonds costing taxpayers 3.7% interest a year.

 

This is all criminal!!!

 

Barclays took IMF draw down rights (effectively a huge taxpayer subsidy.

 

It took £6bilion from the US TARP scheme.

 

Without this tax payer funded gravy train, Barclays would have gone to the wall.

 

The Cobden Centre analysis-

 

"This was not some magical money of no consequence that was whistled up out of thin air, it was the taxpayer taking on the very worst risks that they had on their books, in return for freshly printed (electronic) cash, debasing the rest of us in the process.

 

Secondly, Barclays took a bet, not that bits of Lehman’s were being thrown away at rock bottom prices, but that governments would step in and bail out the banking industry as a whole, explicitly as well as implicitly, thus making those bits of Lehman’s worth something. Without the trillions of US taxpayer dollars thrown at Wall Street, those bits would surely be worthless.

 

Thirdly, the banking industry, Barclays included, have benefited from a hidden bailout. Quantitative easing: a process where the central bank buys assets directly from the banks (often the same bonds the banks bought from the treasury at a lower price some days before), to the engineered ‘positive yield curve’ where banks can buy longer terms assets earning high rates of interest, and then fund them at absurdly low rates at the funding windows of the central bank. The money-making opportunities given to the banks by the state, in the name of ‘balance sheet rebuilding’, are truly obscene.

 

Can any individual or small business benefit from interest rates at close to zero? Is any normal person able to borrow at those levels? No, of course not, we all know we’re paying many points over the base rate for our overdrafts, credit cards, mortgages and so on. Barclays and others are now raking in mountains from borrowing at close to zero and lending it out at 4, 5, 10 and 20%. And the market is rigged to allow this to happen. Are your hard-earned savings paying much? No, but Barclays takes your money, and uses it to fund its own smart trade ideas – the profits of which it, and Mr Diamond, get to keep".

 

Is it that difficult for Mr Daimond to make any money under these circumstances?

 

And even then he couldn't be arsed to pay any corporation tax like every other honest, reputable business has to. This again is an unfair competitive advantage.

 

To add insult to injury Barclays has the cheek to rip off its customers, shareholders and the UK public.

 

Visit the follwoing websites to learn what you can do about this outrage:-

 

http://www.38degrees.org.uk

http://www.onegoodcut.org

http://www.robinhoodtax.org

http://www.marchforthealternative.org...

 

very well put.